Money Life With Chuck Jaffe Daily Podcast

Alexi Panagiotakopoulos, chief investment officer at Fundamental Income, discusses the bifurcated situation in commercial real estate -- where properties for shopping malls and other uses seem to be headed for extinction while support properties like gas stations and drive-thrus is exploding -- stemming from the coronavirus pandemic, while Scott Helfstein, executive director of thematic investing for ProShares, talks about how the pandemic has created transformational change that will make four specific industries the places to be going forward. Also on the show, David Goodsell of the Natixis Investment Managers' Center for Investor Insight discusses the firm's 2020 Global Retirement Index, and Kyle Guske of New Constructs puts a technology fund in the "Danger Zone."

David Tepper of Tepper Capital Management in San Francisco explains why he uses closed-end funds almost exclusively in his client portfolios, noting that in today's market conditions there are plenty of opportunities to build a well-diversified portfolio at a discount, and adding that even long-term closed-end fund investors need to be prepared to take advantage of times when discounts narrow suddenly, creating short-term chances for bigger-than-expected gains.

Tom Lydon of ETFTrends.com says that while the election could influence the sector, alternative energy companies are worth watching for now, and buying when the time is right. Lydon noted that a Joe Biden win in November could help solar-energy stocks, while a Donald Trump victory might hurt it, but the Invesco Solar ETF -- his ETF of the Week -- is so far above its 200-day average that investors should wait for a pullback to consider buying,but long-term should consider making solar a portfolio choice. Also on the show, author Margaret Heffernan discusses how to navigate the future in these particularly uncertain times, Francesca Ortegren of Clever Real Estate talks about the impact Covid-19 is having on mortgage payments and the real estate market, and Hank Smith of Haverford Trust Co. covers stock investing in the Market Call.

Retail specialist Dana Telsey of the Telsey Advisory Group says that the pandemic accelerated all of the big changes that were facing retailers and accelerated them, and while the result has been bankruptcies, consolidations and more -- and we won't be out of the woods until there's a stimulus package that boosts consumers -- there also are clear signs of how retail will survive and how the future for stores, malls and Internet offerings will look different. In another Big Interview, Lindsey Bell, chief investment strategist at Ally Invest, says that the market and economy are moving in the right direction -- generally in the direction of the 'old normal' -- but that it has been making that trip slowly and the pace likely won't pick up without resolution of stimulus efforts, a vaccine and more. Also, Brian Dress, director of research at Left Brain Investment Research, discusses the process that blends science with art to come up with names like Beyond Meat, a hot stock that he says still has major growth pote

Buck Klintworth, portfolio manager at Chase Investment Counsel, says that technicals show that the market's early October rise is no fluke and should have the ability to keep going, though if it moves the Standard and Poor's 500 Index to 3,600 it will have reached his expected level for year-end and will likely chop around and be volatile but mostly sideways into 2021. Also on the show, Kathy Bostjancic of Oxford Economics USA gives her take on how the economy can recover from the pandemic and how close the nation is to a long-lasting problem if economic stimulus is not offered to help the country get through troubled election and holiday seasons, and Allan Sloan of the Washington Post -- a legendary business journalist -- discusses President Trump's financial history and what it suggests he will do as he faces debt and tax issues that have made headlines in recent weeks.

A new survey of 401(k) participants done by Charles Schwab and Co. shows that baby boomers now believe they need a $1.6 million nestegg to retire comfortably, with millennials saying they must amass $2 million. Catherine Golladay of Schwab joins Chuck to discuss how and why retirement savers think reaching their goals is harder and requires more money. Also on the show, Doug Nordman discusses his new book, 'Raising Your Money-Savvy Family for Next Generation Financial Independence,' David Tainer of New Constructs warns of the dangers of ignoring footnotes in corporate filings, and we rebroadcast a recent Market Call interview with Eric Heyman of Olstein Strategic Opportunities.

Four very different experts join Chuck on today's show, and while they each maintain a different investment approach, they all agree that they like the looks of the market right now and they expect things to improve with the resolution of the election. Dan Zanger of ChartPattern.com talks technical analysis and notes that he is nearly fully invested, Ron Sanchez of Fiduciary Trust Co. International examines the fundamentals and notes that he is constructive over the long haul, and expects the market to grind higher through choppy, volatile times for the rest of the year. Peter Vanderlee of ClearBridge Investments and the closed-end LMP Capital and Income fund discusses the importance -- and good value -- of dividend stocks to income generation now, and quantitative manager Robert Zuccaro of Target QR Strategies discusses his growth-driven stock approach in the Market Call.

Ed Clissold, chief US strategist for Ned Davis Research, says that the market has a good chance of 'getting pretty deep into 2021' in a bull market, but that to get there stocks must first get past the uncertainty of the election and the pandemic; he notes that once the market feels good about calling a winner in the presidential election, it is likely to get a boost regardless of which candidate earns the consensus, if only because knowing the outcome provides more solid footing that wondering who will win and whether the results will go through. Also on the show, author Ashley Whillans discusses her new book 'Time Smart' -- out this week -- and how people can reclaim the time they are losing to get more done and be happier and less stressed, Tom Lydon of ETFTrends.com makes a hot, trending home-building fund his 'ETF of the Week,' and Chuck discusses his plans for a Covid-safe cash-or-candy Halloween.

Thomas Winmill, manager of the Midas Fund, says that 27 percent gains over the last 12 months haven't taken the shine off of gold stocks, which are 'trading at very attractive multiples in terms of price to free cash flow.' Winmill notes that despite low inflation -- which reduces gold's efficiency as a hedge against rising prices -- and lower-for-longer interest rates, precious metals remain attractive during uncertain times, which is why gold prices have held up against the coronavirus pandemic and have seemed impervious to election news. Also on the show, Noland Langford of Left Brain Investment Research highlights some 'Covid stocks' that come from industries and businesses that most people don't think have futures tied to the pandemic, Ryan Sweet of Moody's Analytics discusses the latest National Association for Business Economics outlook survey, and Rob Isbitts of Sungarden Investment Management and thehedgedinvestor.com covers exchange-traded funds in the Market Call.

David Goerz, chief investment officer at Strategic Frontier Management says that while the current momentum is with large-cap growth stocks, he expects small-cap stocks and the value style of investing to be the right call for longer-term investors, noting that he would be gravitating his asset allocation towards sectors filled with value-oriented issues --  like financials, industrials and real estate -- while avoiding areas like consumer staples and health care. Jay Kaplan, manager of the Royce Small Cap Value and Royce Total Return funds echoed many of those sentiments in the Market Call; both money managers disliked the energy sector. Also on the show, Jeffrey Bierman, chief market technician at TheoTrade.com, says that while the market has been rising, thin volume suggests that the current rally is not well supported and could turn on a dime, while Meredith Stoddard, vice president of life event planning at Fidelity Investments discusses the firm's 'Moving Forward' survey released today, looking at how i

Greg Valliere, chief U.S. policy strategist for AGF Investments, says he believes the 2021 economy will be okay and show signs of life, but that political unrest between the election and any further coronavirus stimulus is likely to make the remainder of 2020 volatile and lackluster. Also on the show, David Goodsell of the Natixis Investment Managers' Center for Investor Insight talks about the mixed market outlook expressed by the professional strategists consulted in a recent survey, David Trainer of New Constructs highlights an accounting-rules change that is making it harder for investors to uncover bad news and a true picture of certain stocks, and Rob Reilly of PRW Wealth Advisors taks mutual funds and ETFs in the Market Call.

Sam Hendel, president of Levin Easterly Capital, says in the Market Call that the market being near record highs hasn't made it significantly harder to find value stocks poised for strong performance, especially if you are willing to be somewhat contrarian. Also on the show, Terry Gallagher from UMB Fund Services talks about developments in closed-end funds, most notably the evolution of tender-offer funds, Matt Zajechowski of Digital Third Coast discusses a recent survey on the impact of Covid-19 on prices consumers are paying at the supermarket and elsewhere, and author Jame DiBiasio, chats about his book 'Cowries to Crypto: A History of Money, Currency and Wealth.'

Two Big Interview guests today raise questions about the long-term recovery of the economy from the coronavirus pandemic. Lale Topcuoglu of J.O. Hambro Capital Management says that the market assumes that the economy will recover quickly, butworries that a slower rebound and lower growth rates than expected could lead to deterioration in the fixed-income and credit markets, while Nigam Arora of The Aurora Report discusses how the market and economy will respond to additional stimulus and how the expansion of the national debt will eventually turn into a problem. Also on the show, Tom Lydon of ETFTrends.com makes a fund that seeks out cash cows his 'ETF of the Week,' and Rebecca Gramuglia of TopCashback.com discusses how consumers can get more out of their holiday shopping budget if they start planning now.

Michael Falk of Focus Consulting Group returns to Money Life for an update not only on his struggles with Lou Gehrig's Disease, but also on how changes to the market and economy should have all investors asking one key question that should determine what they do next. The show adds a new regular to the lineup with the debut of Left Brain Thinking; Noland Langford of Left Brain Investment research discusses 'election-proof stocks.' Also on the show, Sarah Ketterer of Causeway Capital Management talks international value investing and more, and Vivian Tsai of the College Savings Foundation covers how Covid is changing the way parents and students are thinking about college.

Scott Colyer, chief executive/chief investment officer at Advisors Asset Management, says that the Federal Reserve has primed the pump for the market, but noted that investors need to display some caution. Colyer points out that many people took their stimulus check to the broker and started investing, and all of that enthusiasm tends to be a danger sign for what lies ahead. While Colyer is cautious, he remains fully invested, though he believes investors need to diversify away from the hot stocks and think more broadly. Also on the show, Michele Schneider of MarketGauge.com sees the market's technicals as largely favorable, but with worry signs, John Divine of US News and World Report discusses the hot IPO market and what to expect from new issues for the remainder of the year, and Gary Bradshaw of the Hodges Funds discusses blue-chip stocks in the Market Call.

Niladri Mukherjee of Merrill Lynch Bank of America Private Bank says that investors are more bearish now -- with the Standard and Poor's 500 Index at 3,300 -- than they were when the benchmark stood 1,000 points lower at the bottom of the market's February-March blood-letting. That sentiment is helping to create a pent-up demand that turns most declines into buying opportunities, and is why the market, according to Mukherjee, is entering a new bull cycle, rekindling the secular bull market that started about seven years ago. Brian Kraus of the Hartford Funds talks about a recent survey in which investors discussed how the outcome of the presidential election will impact their investment decisions, Andrew Hsu of the DoubleLine Funds discusses the impact that the election will have on infrastructure spending and project bonds, and David Trainer of New Constructs puts Dropbox stock in the 'Danger Zone'  saying it is significantly overpriced now.

John Kosar, chief market strategist, says the data is telling him that the stock market is due for a short-term pullback, noting that the Standard and Poor's 500 has been hovering in a range signalling a downturn in the offing, looking like it could test current support at the 3,233 level. If the market breaks support from there, Kosar says to expect the 200-day moving average level of roughly 3,100 to be the next test, and that the market could get to it and beyond fast before a rebound comes into view. John Cole Scott of Closed-End Fund Advisors and the Active Investment Company Alliance opens the show by looking back at the first year of The NAVigator segment and the tough and changing year it has covered in the closed-end space, while also looking ahead with some picks for the year ahead.  Also on the show, Robert Hockett, author of "Money From Nothing ... Or, Why We Should Stop Worrying About Debt and Learn to Love the Federal Reserve" discusses the economic fallout from current events, and Daniel Dolan

Mike Calwell, manager of the Driehaus Life Sciences Fund, says that while investors are focused on the coronavirus pandemic and the companies poised to cash in on developing a vaccine, the next decade for life-sciences stocks should include wide-ranging personal health developments combatting things like heart disease and cancer that will still be among the nation's biggest killers long after the virus has passed. Caldwell suggests investors focus on the long-term and the more permanent opportunities, noting that some of the public funding to combat Covid-19 will contribute to advances in many other areas. Also on the show, author Steve Vernon talks about his latest book on the steps investors can take to avoid going broke in retirement, Matt Schulz of CompareCards.com discusses consumer savings amid the pandemic, and Tom Lydon of ETFTrends.com makes an IPO stock his 'ETF of the Week,' suggesting that investors may want to keep a permanent allocation to new and nascent stocks.

John Blank, chief market strategist and economist at Zacks Investment research, says that for all of the stock market's volatility and its headline-induced nervousness, results have been mostly average and investors who look at the long run can easily recognize that the market has been sticking with historic norms despite feeling like it has been put to historic extremes. Also on the show, Chuck answers audience questions about the 'bucket system' of saving for retirement and on the spreads an investor might pay to be a long-term social investor, author and entrepreneur Ken Rusk discusses his book 'Blue Collar Cash,' and Sarah Berger of MagnifyMoney.com discusses the site's latest survey, which shows that just 17 percent of investors 'completely trust the stock market.'

Jeff Klingelhofer, co-head of investments at Thornburg Investment Management, says that investors should be nervous and defensive because of the disconnect between the economy and the stock and bond markets, noting that he worries that the Federal Reserve is ill-equipped for fighting unemployment in addition to its traditional role of combating inflation. Despite the worries, Klingelhofer still believes that the domestic market is the best place to invest. Also on the show, Jeff Krumpelman of Mariner Wealth Advisors says he believes the market is headed for a correction, though he believes there is a solid foundation to enable a reasonably quick recovery from any decline. Also on the show, Ken Tumin of DepositAccounts.com discusses how consumers are changing their banking habits in the pandemic, and Mike Liss of American Century Value Fund talks relative-value investing in the Market Call.